The Globe and Mail reports in its Thursday, April 20, edition that BMO analyst Tom MacKinnon has reaffirmed his "outperform" recommendation for Fairfax Financial Holdings. The Globe's David Leeder writes that Mr. MacKinnon gave his share target a $75 boost to $1,225. Analysts on average target the shares at $1,169.64. Mr. MacKinnon says in a note: "Fairfax Financial is by far the biggest beneficiary amongst its Canadian P&C peers on the transition to IFRS 17 (which calls for discounting), largely because of its current conservative practice of not discounting its reserves. ... The substantial increase in interest rates is primary driver of the bigger increase at Q4/22 versus the Q4/21 guide. Unlike its Canadian peers, Fairfax Financial conservatively does not currently discount its claim liabilities under IFRS 4 to reflect expected yields earned on its assets." The Globe reported on Jan. 26 that Scotia Capital analyst Phil Hardie named Fairfax Financial his "top pick" for the year. As well, he reiterated his "sector outperform" call when the shares could be had for $874.32. The Globe reported on March 15 that CIBC had reaffirmed its "outperformer" call for Fairfax when it could be had for $887.66.